Peter Kyle – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Peter Kyle on 2016-01-25.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect on micro-businesses of changes included in the Finance Bill in relation to dividend taxation.

Mr David Gauke

At Summer Budget 2015, the Chancellor announced that the dividend tax credit will be replaced by a new £5,000 tax-free dividend allowance from April 2016, and that dividend tax rates would be amended from the same date.

A tax information and impact note setting out expected impacts was published on 9 December. This is available to view at the following address: https://www.gov.uk/government/publications/income-tax-changes-to-dividend-taxation/income-tax-changes-to-dividend-taxation.

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